New Gadgets and Gizmos

Sprint Nextel and Clearwire on Wednesday announced a $14.5 billion initiative to combine their wireless broadband businesses and form a new wireless communications company.

Named Clearwire, the new company will focus on expediting deployment of the first nationwide WiMAX network to provide widespread mobile broadband.

WiMAX (Worldwide Interoperability for Microwave Access) is designed to provide wireless connections over long distances and is faster than today’s 3G networks. With embedded WiMAX chipsets in laptops, phones, PDAs, mobile Internet devices and consumer electronics equipment, WiMAX is expected to allow users to wirelessly access a range of multimedia applications such as live videoconferencing, recorded video, games, large data files, and more — anywhere in the network coverage area.

Sprint and Clearwire also announced that Intel, Google, Comcast, Time Warner Cable, and Bright House Networks have agreed to invest $3.2 billion into the new Clearwire.

Sprint will have the largest stake in the new company at 51 percent. Current Clearwire shareholders will own approximately 27 percent, and the investors will have approximately 22 percent as a group.

The Power of the Mobile Internet

The new Clearwire expects to offer mobile wireless Internet services on new devices that integrate WiMAX chipsets and an open architecture.

“We’ve made an excellent start developing XOHM WiMAX services. Contributing those advances to a strongly backed new company — in which we’ll hold the largest interest — provides Sprint with additional financial flexibility and allows Sprint management to leverage and focus on our core business,” said Dan Hesse, president and CEO of Sprint.

Hesse said the agreements allow the new company and its investors to bundle and resell Sprint’s third-generation wireless services, strengthening distribution while reducing complexity and enhancing cable relationships.

Enviable Support

The new Clearwire has enviable support from its partners. Google will work with the new company on an open Internet business protocol for mobile…